Best Option For Financing A Car

[joeyswags]

I am looking to take out a car loan in the range of 500,000 THB. I have heard it is possible...here is the situation I am in...

Work permit for five years, same job

Monthly salary 60,000 THB on paper (monthly deposits from contract jobs avg 30,000 THB to same bank account)

Great credit history

Married to a thai citizen

Any advice is much appreciated. Any recommendations on what banks or dealerships anyone has any experience with. I stay in Nonthaburi.

[thaicbr]

I got my loan through SCB bank via the dealer. 2004 car 200,000baht at 4.55%. i thought it was good.

Allan

[zaphodbeeblebrox]

I got my loan through SCB bank via the dealer. 2004 car 200,000baht at 4.55%. i thought it was good.

Allan

How much was your down Allan?

[mark5335]

I think it is easier to apply for a car loan through your car dealer. Last year I bought a Honda in my wife's name. I have a WP but had only just moved to BKK then, & Thai wife doesn't work, however, Honda advised that the loan process would be easier if booked under the wife's name wioth me as guarantor. Down payment was 40%, interest rate was 2.8% for a 2 year term, loan amount was 950,000 baht). The approval process was speedy, only a few days. I checked with banks as well (Thanachart and BAY are the largest auto loan banks), however, expectations on approval turnaround time and red tape was a negative, also these banks couldn't better the rate offered by Honda Leasing.

[thaicbr]

Zaphod. The truck was 230,000 plus 16,000 for 1st class insurance. so i paid 46,000 then had the 200,000 on the loan just 5,270b per month. I'm happy.

As Mark sez the big car companies offer better rates BUT not on 2nd hand cars.

Allan

[joeyswags]

Zaphod. The truck was 230,000 plus 16,000 for 1st class insurance. so i paid 46,000 then had the 200,000 on the loan just 5,270b per month. I'm happy.

As Mark sez the big car companies offer better rates BUT not on 2nd hand cars.

Allan

Thanks for the replies guys.

Zaphod, I think I will opt for a used car (2005+)...may i ask where you got yours? Will I need a thai license before hand? Is it a requirement to have a thai to guarentee?

Thanks again!!